Net revenues increase 11% in local currency; Adjusted EPS up 32% and adjusted operating income up 19%

NEW YORK; June 29, 2006 — Accenture (NYSE: ACN) today reported strong financial results for the third quarter of fiscal 2006, ended May 31, with net revenues of $4.41 billion, an increase of 11 percent in local currency over the same period last year, and GAAP diluted earnings per share of $0.56, which include a $0.06 benefit from a $58 million reduction in reorganization liabilities. EPS increased 10 percent on a GAAP basis and 32 percent on an adjusted basis over the third quarter last year.

The company achieved the highest quarterly net revenues in its history, driven by record net revenues in all five operating groups and all three geographic regions. Consulting and outsourcing net revenues were also the highest in any quarter.

In addition to achieving double-digit increases in both its top and bottom lines, the company grew operating income by 3 percent on a GAAP basis and 19 percent on an adjusted basis and expanded its operating margin by 120 basis points, to 14.3 percent. The company also maintained its strong balance sheet and cash flow.

William D. Green, Accenture’s CEO, said, “Our performance in the third quarter demonstrates the overall strength and momentum of our business. We grew revenues across every dimension of our company. We increased operating income, expanded operating margin and reduced SG&A as a percentage of revenues. New bookings of $5.57 billion were the highest in nine quarters. Our balance sheet remains strong, and we generated $746 million in free cash flow. Overall, we are well-positioned for further growth and remain focused on delivering value to our clients and shareholders.”

Financial Review

As previously reported, Accenture began expensing stock options and employee stock purchase plans on Sept. 1, 2005, in accordance with SFAS 123R. Therefore, in addition to providing year-over-year GAAP comparisons, the company is presenting results for the third quarter of fiscal 2005 on an options-adjusted basis to provide meaningful comparisons on relevant metrics.

Revenues before reimbursements (“net revenues”) for the third quarter of fiscal 2006 were $4.41 billion, compared with $4.08 billion for the third quarter of fiscal 2005, an increase of 11 percent in local currency and 8 percent in U.S. dollars. Net revenues were the highest of any quarter in the company’s history, driven by record net revenues in all five operating groups and all three geographic regions.

Consulting net revenues were $2.66 billion, an increase of 10 percent in local currency and 6 percent in U.S. dollars over the third quarter last year.

Outsourcing net revenues were $1.75 billion, an increase of 14 percent in local currency and 11 percent in U.S. dollars over the same period last year.

GAAP diluted EPS for the third quarter of fiscal 2006 were $0.56, compared with $0.51, or $0.46 on an options-adjusted basis, for the third quarter last year. After adjusting for the $0.06 reorganization benefit, EPS for the third quarter of fiscal 2006 were $0.50, compared with $0.38 in the third quarter last year on an options-adjusted basis and excluding an $0.08 benefit from a $73 million reduction in reorganization liabilities in that quarter. Reorganization liabilities were established in connection with the company’s transition to a corporate structure in 2001.

GAAP operating income for the third quarter of fiscal 2006 was $690 million, or 15.7 percent of net revenues, compared with $672 million, or 16.5 percent of net revenues, for the third quarter last year, and $606 million, or 14.9 percent of net revenues, on an options-adjusted basis for the third quarter last year. Excluding the $58 million reorganization benefit, operating income for the third quarter of fiscal 2006 was $632 million, or 14.3 percent of net revenues, compared with third-quarter fiscal 2005 operating income of $533 million, or 13.1 percent of net revenues, on a reorganization- and options-adjusted basis. This represents a 19 percent increase in operating income and a margin expansion of 120 basis points.

Gross margin (gross profit as a percentage of net revenues) for the third quarter of fiscal 2006 was 33.0 percent, compared with 33.0 percent on an options-adjusted basis, or 34.6 percent on a GAAP basis, for the third quarter of fiscal 2005.

Selling, general and administrative expenses in the third quarter of fiscal 2006 were $816 million, or 18.5 percent of net revenues, compared with $804 million, or 19.7 percent of net revenues, in the third quarter last year on a GAAP basis and $808 million, or 19.8 percent of net revenues, on an options-adjusted basis.

The company’s effective tax rate for the third quarter of fiscal 2006 was 29.9 percent, compared with 29.4 percent for the same period last year. The 29.9 percent effective tax rate for the third quarter of fiscal 2006 reflects the effect of the reduction in the year-to-date tax rate from 37.0 percent to 33.4 percent, primarily as a result of final determinations of reorganization liabilities and prior-year tax liabilities during the quarter. Final determinations include final agreements with tax authorities and expiration of statutes of limitations.

GAAP income before minority interest was $499 million in the third quarter of fiscal 2006, compared with $486 million in the same period of fiscal 2005 and $440 million on an options-adjusted basis for the same period of fiscal 2005.

For the three months ended May 31, 2006, operating cash flow was $806 million, and property and equipment additions were $60 million. Free cash flow, defined as operating cash flow net of property and equipment additions, for the third quarter of 2006 was $746 million.

Accenture’s total cash balance at May 31, 2006 was $2.79 billion, compared with $2.48 billion at Aug. 31, 2005. Cash combined with $324 million of fixed-income securities classified as investments on the company’s balance sheet was $3.12 billion at May 31, 2006, compared with $3.18 billion at Aug. 31, 2005. Total debt at May 31, 2006 was $50 million.

New Bookings

New bookings for the third quarter were $5.57 billion, the highest in nine quarters:

Consulting accounted for $2.75 billion of new bookings.

Outsourcing accounted for $2.82 billion of new bookings and represented the company’s highest outsourcing bookings in nine quarters.

New bookings for the nine months ended May 31, 2006 totaled $15.44 billion, an increase of 23 percent in local currency and 20 percent in U.S. dollars over the same period last year.

Net Revenues by Operating Group

Net revenues for Accenture’s five operating groups were as follows:

Communications & High Tech: $1,079 million, compared with $1,037 million for the third quarter of fiscal 2005, an increase of 7 percent in local currency and 4 percent in U.S. dollars.

Financial Services: $922 million, compared with $909 million for the same period last year, an increase of 6 percent in local currency and 1 percent in U.S. dollars.

Government: $599 million, compared with $577 million for the year-ago period, an increase of 7 percent in local currency and 4 percent in U.S. dollars.

Products: $1,117 million, compared with $933 million for the year-ago period, an increase of 24 percent in local currency and 20 percent in U.S. dollars.

Resources: $687 million, compared with $621 million for the same period last year, an increase of 13 percent in local currency and 11 percent in U.S. dollars.

Net Revenues by Geographic Region

Net revenues by geographic region were as follows:

Americas: $2.02 billion, compared with $1.75 billion for the third quarter of fiscal 2005, an increase of 14 percent in local currency and 16 percent in U.S. dollars.

Europe, Middle East and Africa (EMEA): $2.07 billion, compared with $2.07 billion for the third quarter of fiscal 2005, an increase of 7 percent in local currency and flat in U.S. dollars.

Asia Pacific: $317 million, compared with $266 million for the year-ago period, an increase of 25 percent in local currency and 19 percent in U.S. dollars.

Share Repurchase Activity

During the third quarter of fiscal 2006, Accenture repurchased or redeemed a total of 9.8 million shares for a total of $290 million. At May 31, 2006, Accenture had $2.2 billion of share repurchase authority remaining.

Business Outlook

Fourth Quarter Fiscal 2006

For the fourth quarter, ending Aug. 31, 2006, Accenture expects net revenues to be in the range of $4.20 billion to $4.35 billion and GAAP diluted EPS to be in the range of $0.52 to $0.54. GAAP diluted EPS will include the impact of a $140 million tax benefit recorded in June as a result of the expiration of a statute of limitations. The company’s consolidated tax provision in the fourth quarter will reflect the impact of this item.

Full Fiscal Year 2006

For the full fiscal year 2006, Accenture now expects net revenues to be at the upper end of its previously communicated range of 9 percent to 12 percent in local currency. The company now expects GAAP diluted EPS to be in the range of $1.55 to $1.57, including the impact of the $140 million tax benefit recorded in June.

Accenture has increased its outlook for operating cash flow and now expects operating cash flow for the full fiscal year to be in the range of $2.10 billion to $2.20 billion; property and equipment additions to be $350 million; and free cash flow to be in the range of $1.75 billion to $1.85 billion.

The company now expects its annual effective tax rate to be in the range of 25 percent to 27 percent, including the impact of the tax benefit recorded in June.

Accenture continues to target new bookings in the range of $19 billion to $21 billion for the full fiscal year. Given new bookings to date and pending opportunities, the company now expects to be at the high end of the range.

Conference Call and Webcast Details

Accenture will host a conference call at 4:30 p.m. EDT today to discuss its third-quarter 2006 financial results. To participate, please dial +1 (800) 230-1092 [+1 (612) 288-0318 outside the United States, Puerto Rico and Canada] approximately 15 minutes before the scheduled start of the call. The conference call will also be accessible live on the Investor Relations section of the Accenture Web site at www.accenture.com.

A replay and podcast of the conference call will be available online at www.accenture.com [for approximately two weeks beginning at 9:45 p.m. EDT Thursday, June 29]. The replay will also be available via telephone by dialing +1 (800) 475-6701 [+1 (320) 365-3844 outside the United States, Puerto Rico and Canada] and entering access code 833247 from 9:45 p.m. EDT Thursday, June 29 through 11:59 p.m. EDT Thursday, July 13.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With more than 133,000 people in 48 countries, the company generated net revenues of US$15.55 billion for the fiscal year ended Aug. 31, 2005. Its home page is www.accenture.com.

Forward-Looking Statements

This news release contains forward-looking statements relating to our operations and results of operations, the accuracy of which is necessarily subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed under the “Risk Factors” heading in the Business section of our most recent annual report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

Non-GAAP Financial Information

This press release includes certain non-GAAP financial information as defined by Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of this non-GAAP financial information to Accenture’s financial statements as prepared under generally accepted accounting principles (GAAP) are included in this press release. Accenture’s management believes providing investors with this information gives additional insights into Accenture’s results of operations. While Accenture’s management believes that these non-GAAP financial measures are useful in evaluating Accenture’s operations, this information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.

ACCENTURE LTDCONSOLIDATED INCOME STATEMENTFor the Three and Nine Months Ended May 31, 2006 and 2005(In thousands of U.S. dollars, except share and per share data)(Unaudited)

Minority interest – other is comprised primarily of minority interest attributable to the minority shareholders of Avanade, Inc.

[2]

Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc..exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.

ACCENTURE LTDRECONCILIATION OF CONSOLIDATED INCOME STATEMENT, AS REPORTED (GAAP), TO CONSOLIDATED INCOME STATEMENT ON AN OPTIONS-ADJUSTED BASISFor the Three Months Ended May 31, 2005 (In thousands of U.S. dollars, except share and per share data)(Unaudited)

Minority interest – other is comprised primarily of minority interest attributable to the minority shareholders of Avanade, Inc.

[2]

Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.

[3]

Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the three months ended May 31, 2005.

ACCENTURE LTDRECONCILIATION OF CONSOLIDATED INCOME STATEMENT, AS REPORTED (GAAP), TO CONSOLIDATED INCOME STATEMENT ON AN OPTIONS-ADJUSTED BASISFor the Nine Months Ended May 31, 2005 (In thousands of U.S. dollars, except share and per share data)(Unaudited)

Minority interest – other is comprised primarily of minority interest attributable to the minority shareholders of Avanade, Inc.

[2]

Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.

[3]

Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the three months ended May 31, 2005.

ACCENTURE LTDSUMMARY OF REVENUES(In thousands of U.S. dollars)(Unaudited)

Three Months Ended

May 31, 2006

May 31, 2005

Percent Increase (Decrease) US$

Percent IncreaseLocal Currency

Percent ofTotal 2006Net Revenues

OPERATING GROUPS

Communication & High Tech

$1,079,220

$1,036,972

4%

7%

24%

Financial Services

921,676

909,421

1%

6%

21%

Government

598,842

577,248

4%

7%

14%

Products

1,116,766

932,680

20%

24%

25%

Resources

687,412

620,564

11%

13%

16%

Other

4,153

1,688

n/m

n/m

—

TOTAL Net Revenues

4,408,069

4,078,573

8%

11%

100%

Reimbursements

397,258

419,037

(5%)

TOTAL REVENUES

$4,805,327

$4,497,610

7%

GEOGRAPHY

Americas

$2,018,417

$1,745,657

16%

14%

46%

EMEA

2,073,050

2,067,059

0%

7%

47%

Asia Pacific

316,602

265,857

19%

25%

7%

TOTAL Net Revenues

$4,408,069

$4,078,573

8%

11%

100%

TYPE OF WORK

Consulting

$2,656,667

$2,497,339

6%

10%

60%

Outsourcing

1,751,402

1,581,234

11%

14%

40%

TOTAL Net Revenues

$4,408,069

$4,078,573

8%

11%

100%

Nine Months Ended

May 31, 2006

May 31, 2005

PercentIncrease US$

Percent IncreaseLocal Currency

Percent ofTotal 2006Net Revenues

OPERATING GROUPS

Communication & High Tech

$3,152,853

$2,991,991

5%

8%

25%

Financial Services

2,609,910

2,575,450

1%

5%

20%

Government

1,794,648

1,622,162

11%

13%

14%

Products

3,138,006

2,646,272

19%

22%

25%

Resources

1,976,764

1,781,449

11%

13%

16%

Other

8,158

5,126

n/m

n/m

—

TOTAL Net Revenues

12,680,339

11,622,450

9%

12%

100%

Reimbursements

1,159,116

1,162,916

0%

TOTAL REVENUES

$13,839,455

$12,785,366

8%

GEOGRAPHY

Americas

$5,771,674

$4,871,848

18%

17%

46%

EMEA

5,998,177

5,946,586

1%

7%

47%

Asia Pacific

910,488

804,016

13%

18%

7%

TOTAL Net Revenues

$12,680,339

$11,622,450

9%

12%

100%

TYPE OF WORK

Consulting

$7,698,682

$7,183,544

7%

10%

61%

Outsourcing

4,981,657

4,438,906

12%

15%

39%

TOTAL Net Revenues

$12,680,339

$11,622,450

9%

12%

100%

n/m = not meaningful

ACCENTURE LTDOPERATING INCOME BY OPERATING GROUP (OG)For the Three Months Ended May 31, 2006 and 2005 (In thousands of U.S. dollars)(Unaudited)

Operating Income as Reported

2006

2005

Operating Groups

Operating Income

Percent of OG Net Revenues

Operating Income

Percent of OG Net Revenues

Percent Increase (Decrease)

Communications & High Tech

$173,516

16%

$222,520

21%

(22%)

Financial Services

125,542

14%

163,218

18%

(23%)

Government

66,136

11%

69,181

12%

(4%)

Products

229,951

21%

117,381

13%

96%

Resources

94,979

14%

99,648

16%

(5%)

Total

$690,124

15.7%

$671,948

16.5%

3%

Operating Income on an Options-Adjusted Basis and Excluding Reorganization Benefits

2006

2005

Operating Groups

Reorg. Benefits (1)

Adjusted Operating Income

Percent of OG Net Revenues

Options Adjs. (2)

Reorg. Benefits (1)

Adjusted Operating Income

Percent of OG Net Revenues

Percent Increase (Decrease)

Communications & High Tech

$13,710

$159,806

15%

$15,725

$17,005

$189,790

18%

(16%)

Financial Services

11,847

$113,695

12%

16,252

16,782

$130,184

14%

(13%)

Government

8,797

$57,339

10%

7,871

10,566

$50,744

9%

13%

Products

14,141

$215,810

19%

15,521

17,492

$84,368

9%

156%

Resources

9,188

$85,791

12%

10,726

10,707

$78,215

13%

10%

Total

$57,683

$632,441

14.3%

$66,095

$72,552

$533,301

13.1%

19%

[1]

Represents reorganization benefits related to certain reorganization liabilities established in connection with Accenture’s transition to a corporate structure in 2001, which are included in Reorganization benefits, net on the income statement.

[2]

Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the three months ended May 31, 2005.

ACCENTURE LTDOPERATING INCOME (LOSS) BY OPERATING GROUP (OG) For the Nine Months Ended May 31, 2006 and 2005 (In thousands of U.S. dollars)(Unaudited)

Operating Income (Loss) as Reported

2006

2005

Operating Groups

Operating Income (Loss)

Percent of OG Net Revenues

Operating Income

Percent of OG Net Revenues

Percent Increase (Decrease)

Communications & High Tech

$523,310

17%

$510,345

17%

3%

Financial Services

309,477

12%

385,697

15%

(20%)

Government (3)

(8,826)

(0%)

128,791

8%

n/m

Products (3)

265,006

8%

301,240

11%

(12%)

Resources

251,025

13%

275,977

15%

(9%)

Total

$1,339,992

10.6%

$1,602,050

13.8%

(16%)

Operating Income (Loss) on an Options-Adjusted Basis and Excluding Reorganization Benefits

2006

2005

Operating Groups

Reorg. Benefits (1)

Adjusted Operating Income (Loss)

Percent of OG Net Revenues

Options Adjs. (2)

Reorg. Benefits (1)

Adjusted Operating Income

Percent of OG Net Revenues

Percent Increase (Decrease)

Communications & High Tech

$17,183

$506,127

16%

$34,898

$27,510

$447,937

15%

13%

Financial Services

14,901

$294,576

11%

35,496

26,324

323,877

13%

(9%)

Government (3)

10,984

$(19,810)

(1%)

18,916

17,249

92,626

6%

n/m

Products (3)

17,742

$247,264

8%

35,513

27,020

238,707

9%

4%

Resources

11,511

$239,514

12%

23,598

16,688

235,691

13%

2%

Total

$72,321

$1,267,671

10.0%

$148,421

$114,791

$1,338,838

11.5%

(5%)

n/m = not meaningful

[1]

Represents reorganization benefits related to certain reorganization liabilities established in connection with Accenture’s transition to a corporate structure in 2001, which are included in Reorganization benefits, net on the income statement.

[2]

Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the nine months ended May 31, 2005.

The per share amount is calculated as the dollar amount divided by the number of weighted average diluted shares.

[2]

Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.

[3]

Calculated as pre-tax stock option and employee share purchase plan compensation expense of $66,095 and $148,421 for the three and nine months ended May 31, 2005, respectively, applying an average tax rate of 30%.

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